Top Analyst Upgrades and Downgrades: Aramark, Coupa, DraftKings, Duke, eGain, FedEx, Illumina, Lululemon, Nikola, Slack, Vroom and More

The S&P 500 and Nasdaq finally reminded that all of its tech darlings leading the surge to astronomical valuations day after day could actually sell off again. After a few days of sharp selling pressure the S&P 500 was up nearly 1% on Tuesday morning. Many investors missed the recovery as the recession forced them out of the market, and those all-time highs remain puzzling to much of Main Street. Investors also have been looking for new ideas for how to be positioned in the rest of 2020 and ahead of the election.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid.

Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades and initiations from Wednesday, September 9, 2020.

Adaptive Biotechnologies Corp. (NASDAQ: ADAP) was started as Equal Weight with a $42 price target at Morgan Stanley. The stock closed up 1.2% at $36.24 on Tuesday, and its consensus target price was $54.25.

Aramark Corp. (NYSE: ARMK) was raised to Buy from Neutral and its target price was raised to $36 from $23 (versus a $27.94 prior close) at Goldman Sachs.

Coupa Software Inc. (NASDAQ: COUP) was down 3.2% at $276.70 on Tuesday and was down 4.4% at $264.50 on Wednesday after its guidance. Piper Sandler reiterated the shares as Neutral and raised its target to $232 from $211. Raymond James reiterated its Outperform rating and raised its price target to $300 from $235.

DraftKings Inc. (NASDAQ: DKNG) was started with an Outperform rating and a $60 target price (versus a $37.01 closing price) at Evercore ISI. This matches the street-high target. The consensus target price was $46.23.

Duke Energy Corp. (NYSE: DUK) was raised to Buy from Neutral but its price objective was trimmed to $85 from $87 at BofA Securities.

eGain Corp. (NASDAQ: EGAN) was started with a Buy rating and a $16 target price (versus an $11.14 close) at D.A. Davidson.

Entasis Therapeutics Holdings Inc. (NASDAQ: ETTX) was started as Overweight and a $5 target price (versus a $2.82 close) at Cantor Fitzgerald.

FedEx Corp. (NYSE: FDX) was started as Outperform and its price target was set at $300 (versus a $221.05 close) at Evercore ISI.

Illumina Inc. (NASDAQ: ILMN) was started with an Equal Weight rating and a $400 price target (versus a $340.95 close) at Morgan Stanley. It had a $347.86 consensus target price.

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